In the last decade or so, if a company was required to keep the records of their employees or staffs, the only possible solution was an on-site hosted HR system that was only accessible for a handful of HR Admins. Fortunately, in today’s time, there are HRM solutions available that have secured access to all employees via the internet and cloud.
This facility has significantly improved the HR management process for many companies. Though many companies still maintain the old-fashioned way of managing their HR system by documents or spreadsheets etc. Maybe because those companies are still not aware of the immense benefits of implementing an effective HRM solution in their management system.
But before getting into more details of HRM feature and the benefits that it may offer to your company, let’s know a little bit about what the HRM solution really is.
What really is an effective HRM solution?
HRM system solution is basically a software that provides an extension to an HR management allowing the company to improve their decision making. It helps a company to keep track of all its employees and the information related to them. Information such as employee personal details, employee performances & demographics is some of the common items that the HRM system manages. Normally it is generated in a database or more commonly in an interrelated database.
Planning to use an HRM solution for your company? Read & find out from the blog below:
Things To Consider Before Considering A HRM Software →
Features of HRM Solution
If implemented properly an HR solution can come in for tremendous benefits to the small to medium-sized business. So what exactly are the features and benefits of using HR solution for your company? Let’s find out:
Employee Information Keeper
One of the main features of HRM solution that should cater to all companies is that its ability to annihilate and minimize the requirement of maintaining hard-copy or files of every related information of the company. So this means HRM solution keeps all your company information well organized and gives you the ultimate ease of access whenever you need it.
Payroll System Management
Payroll is one of the essential parts of any HRM solution. And this needs to be handled properly. And with an effective HRM solution, it enables your company to keep employee info integrated with their payroll info. This proves to be quite helpful when there is any need for change in their pay, work timing or in case of tracking employee hours.
Self-Served Employee Attendance Service
When it comes to managing the attendance of company employees, HRM solution is the reliable and useful one. So the feature of employee self-attendance service is an invaluable one for most companies nowadays. This feature allows employees to view and make any changes to their information. Also applying for a leave, view their schedule and monthly attendance report as well as to communicate with their HR managers etc. Not just these benefits, this self-attendance service is totally accessible with mobile devices. This lets employees and HR manager check reports, take leave or take certain actions on the go.
Employee Performance Review
Managing employee reviews through paper assessment is quite an inconvenient ongoing process. This may also prove to be quite less effective and limited in terms of scope. Once the performance review is done, the HR solution still keeps collecting information regarding employee performance on regular basis. This allows the HR manager to simply fetch any employee information directly from the system without the hassle of digging it up through messy paperwork. Not just that, they can even fill out the evaluation form directly in the system.
Administrative Work Benefits
The enrollment of an employee can prove to be hectic and confusing sometimes. But this confusion and the time-consuming task can be cut down by the amazing feature of HR solution. The HR Solution with this feature walks the new employee through the enrollment process. This simplifies the procedure of explaining every detail steps of the company policies. This feature also simplifies any changes that are required for the employees to make company benefits.
Application And Recruitment Procedure
Onboarding and recruiting new workforce is another very important internal part of HRM solutions. If not handled with an HRM solution, this process can be quite time-consuming. So the HRM solution system makes it easy to post job applications and recruitment notice on social networking sites and company websites. This helps the company to save a lot of time in shortlisting the right candidate. This also simplifies the application process as well as filtering out the applicants by qualifications. Once the company makes the hiring decision, this feature even allows the HR manager to transfer information into the employee files.
Benefits Of HRM Solution For Your Company
Betters Effective Decision Making
Poor decision making may lead to substantial loss to the company. This actually happens due to lack of correct or insufficient interrelated information. Getting the relevant information promptly makes the decision making a lot easier. And a good quality HRM solution updates a number of relevant information simultaneously. This ensures you to input important and useful details and information regarding every aspect of HR.
Enhances The Productivity Of Company
Keeping records of details and employee information manually consumes a fair amount of time. This is because all these info are updated by hand. But HR solution software takes away the load of this manual task of information updating. This allows the free hand to work on something more productive for the company. Moreover, inquiries of employees of an HR department eats up a lot of valuable time for the company. But with HR solution implemented you won’t be needing to worry about those manual tasks anymore. Additionally, this also saves time and improves efficiency in the selection and recruiting process. Which eventually results in more productivity of the company.
Generates Better ROI
In the initial stages, investing in an HRM solution software may seem to be quite expensive. But the benefits that the company will receive over time will successively recover the cost of investment in no time. If you are willing to choose HRM solution that rightly meets all your business requirements, then it will definitely reduce the labor cost soon enough. As many of the manual tasks will be taken care of by the software itself. This also means the relevant task will take a lot less time than it should as a result of this HRM solution software. And so all these benefits prove that in no time this measurable investment in this software will help your company bring in a great Return On Investment(ROI).
Improves Business And Employee Management Efficiency
HRM solution software provides an easy integration of the HR functions into other aspects of business management. You can determine whether you need to include any other modules by the requirements of your company. Many companies might require a linkage to the external extension software like accounting or other reporting software to make all aspects of business management aerodynamic. These easy module integration truly help improve the business and employee management efficiency of the company.
Increases The Company Security
One of the most important aspects of a company is its security. Vulnerabilities in the security may cause a company to lose confidential information. This sometimes leads to a huge loss for the company. But HRM solution has this aspect of business covered as it improves your business security by minimizing the amount of paperwork and the security risks related to that. The security breach is indeed a very major problem in most companies these days. And being able to reduce the number of ways that security can be breached is definitely one way to limit the risk. And the HRM solution software certainly helps and minimizes the risk of security issues of the company a great deal.
Final Thoughts
Well, to be honest with the rise in effectiveness along with the efficiency of HRM solution, the popularity of its usage in the business has also risen up. This is also the main reason for most companies investing in implementing HR solution software nowadays. And why not it be, as a compact HR management solution can not only take care of numerous important tasks such as employee attendance, payroll but also other essential tasks like performance information, benefits and much more.
So indeed investing in HRM solution software will definitely prove to be a fruitful one once done with proper research and analysis. One complete HRM solution is provided by WP ERP. It will not only provide you a comprehensive HRM solution for your company but will also let you manage your customer lists and more with its built-in CRM solution. So if you are looking for a feature enriched and cutting-edge HRM or CRM solution for your company then you may want to try the WP ERP Demo or
If you are already using a HRM solution for your company then do share your experience with us in the comments below.
